Leading companies in the field of wood industry and furniture production from Bosnia and Herzegovina have recognised the Sarajevo Business Forum (SBF) as a good platform for promoting the potentials of Bosnia and Herzegovina as an attractive nearshoring destination for companies from the European Union (EU). This is the conclusion of the meeting that the management of Bosna Bank International (BBI) held with the representatives of leading domestic companies from the wood and furniture production industry.
“BBI Bank recognised nearshoring as an approach that can positively change the economic situation in B&H over the next five years. Business minded people, educated workforce, natural resources, access to finance, as well as geographical proximity to large European markets make our country attractive enough as a reliable partner to economically developed European countries, which should consider reallocating their production facilities from other countries to Bosnia and Herzegovina. By transferring production to B&H, in addition to the previously mentioned benefits, companies can reduce future risk of supply chains disruptions to a minimum." said Mr. Nedžad Gušić, BBI’s Board Member for Corporate Banking and Investments.
Meeting, mainly related to initiate adequate guidelines for wood industry and furniture production for the upcoming 11th Sarajevo Business Forum (SBF) 2022, which will be held in May 2022, was attended by: Mr. Kemal Čolak from “Promo” Donji Vakuf, Mr. Zlatan Uzunović from “Prevent Interior” Visoko, Mr. Damir Muhić and Mr. Mirza Hurem from “MS& Wood” Fojnica, Mr. Edin Čaušević from “Luxor XL” Sarajevo, Mr. Suad Ećo from “Ećo Company” Sarajevo, Mr. Ernad Smajić from “Malak Janj” Donji Vakuf, Mr. Adnan Smailbegović from “Wood Team” Visoko, Mr. Emir Pajić from “BH Pal” Travnik, Mr. Taib Ibreljić from “Tamex” Busovača and Mr. Nurdin Peštalić from “Solid Wood” Gradačac.
“Sarajevo Business Forum is a worldwide brand. It will be an ideal opportunity to present the possibilities and potentials of the B&H wood processing industry and open new markets" said Mr. Suad Ećo, president of the BH Wood Processors Association.
The group that decided to invest in Bosnia and Herzegovina, as an outcome of the previously held Sarajevo Business Forum is the Malak Group, which, in addition to the “Janj” furniture factory, invested in a 5-star-hotel in Ilidža (Sarajevo) and built a tourist complex “Malak Farm” in Kakanj.
“Malak Janj and Malak Group are both a direct outcome of the Sarajevo Business Forum. Today we are a successful group and an excellent example that shows how important is the concept of SBF. The business environment may not be ideal; however, the successful case of Malak investment confirm that it is wise to invest in Bosnia and Herzegovina” said Mr. Ernad Smajić, director of “Malak Janj”.
Mr. Adnan Smailbegović, director of “Wood Team” and president of the Association of Employers of Federation BiH (FBiH), said that the Sarajevo Business Forum is a recognisable event and a platform through which the companies, as well as entire B&H business community, can pursue its interests, adding: “The wood and furniture production industry are predisposed for various business opportunities that could be realised through SBF. We need to raise the technological level, and thus the productivity of our companies, in order to be ready for the demanding European markets.”
On behalf of the Management Board of Bosna Bank International, the Organizer of the Sarajevo Business Forum business and investment conference since 2010, Mr. Nedžad Gušić expressed his gratitude to the present entrepreneurs that expressed readiness to help, through their initiatives and suggestions, and to support the organisation of the 11th Sarajevo Business Forum (SBF) 2022, scheduled to take place on May 11 and 12, 2022.
“Presented initiatives, suggestions and advices will help us in the organisation of the upcoming SBF. It is a great pleasure to have these renowned B&H companies from wood processing sector in our pre-forum thematic meetings. Only together we can create an environment to improve the economic situation in our country” Mr. Gušić concluded.
You can find and watch video from the meeting bellow: